Daily Chart Report π Thursday, January 23, 2025
Powered By:
Todayβs Summary
Thursday, January 23, 2025
Indices: Dow +0.92% | S&P 500 +0.53% | Russell 2000 +0.47% | Nasdaq +0.22%
Sectors: All 11 sectors closed higher. Health Care led, gaining +1.34%. Technology lagged, but still closed higher by +0.18%.
Commodities: Crude Oil futures dropped -1.09% to $74.62 per barrel. Gold fell -0.21% to $2,765 per oz.
Currencies: The US Dollar Index fell -0.15% to $108.12.
Crypto: Bitcoin rose +0.29% to $103,933. Ethereum rose +3.00% to $3,339.
Volatility: The Volatility Index fell -0.53% to 15.03.
Interest Rates: The US 10-year Treasury yield rose to 4.646%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared by Trend Spider (@TrendSpider).
- After gapping higher for three consecutive days, the S&P 500 ($SPY) opened lower today. However, it pushed higher throughout the session, registering its first all-time high of the new year.
- $SPY peaked in early December before pulling back -4.5% on a closing basis. The market typically takes the stairs up and the elevator down. However, it only took 8 days to recover from a 22-day pullback.
- With $SPY in uncharted territory, there's virtually no price memory to prevent it from making a new leg higher. The next potential Fibonacci target is near $630, representing the 161.8% extension of the recent pullback.
The Takeaway: The S&P 500 achieved its first all-time high of the new year today after staging a bullish intraday reversal. The index took the stairs down and the elevator up, generating momentum for the next potential leg higher.
Top Links
Sentiment Swing - Bespoke
Bespoke breaks down the results of the latest AAII Sentiment Survey.
Post-Election Best Year Since 1985 Bullish For 2025
Jeff Hirsch examines how the S&P 500 has historically performed in post-election years.
Health Care Bounce is Starting to Brew, says Strategas' Chris Verrone - CNBC
Chris Verrone shares his thoughts on the health care sector and more.
Nuclear Power Heats Up - Alfonso's Daily Note
Alfonso De Pablos highlights the strength in uranium and nuclear-related stocks.
Today's Number is... 17.5 - The Daily Number π―
Grant Hawkridge looks at what credit spreads suggest about the current market.
Quote of the Day
βThe people who excel in any field are people who realize that the moment is there to be seized and that there are opportunities at every turn. They are more alive to the moment.β
- Charles Faulkner